Bonds Intermediation

The Name passing brokerage model is the traditional one, through which the broker (FIA) takes on an arranging role in a transaction between two or more counterparties (not disclosed in advance). FIA has the role to find the solution for the counterparties showing price and conditions. Once the trade price, volume and terms have been agreed, FIA discloses the counterparties’ names, putting them in direct contact. FIA has no further role in the transaction.

As a Matched principal broker, FIA facilitates its clients in anonymous trading activity in cash products (bonds, structured products etc.) by taking part in a matched transaction as principal, and ensures confidentiality. FIA can provide to its client’s an indication of market prices and volumes. Our Company will not trade speculatively for a client or for his own book in the market. The trade will only be executed as a result of a firm client order to buy or sell at a set price or size. Once the trade is complete, price, volume and terms are communicated through FIA and Back-Office confirmation. Settlement is made between each client based on the market convention with the brokerage fee incorporated in the all-in price passed to the client.

In addition to Name passing and Matched principal brokerage models, FIA can facilitate the trading activity of its clients on financial markets / Stock Exchange. The client will instruct FIA to place an order on the exchange. If requested, FIA will update the client on regular basis. Once the execution has occurred, the executed position is given-up to the client through the standard clearing system with the brokerage fee incorporated in the all-in price passed to the client. This process typically occurs within the day and as a consequence FIA, at the end of the day, transfers the entire position to its client.